STRATEGY:RETRACEMENT by ponml

This is a basic script meant to help you identify Fibonacci Retracement Levels. Based on the high and low lookback periods you input, it will draw lines for the highest high and lowest low for those times as well as the Fibonacci Retracement Levels in between.

Release Notes:

Added labels on Fibonacci Retracement Levels.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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